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415 Grand Avenue

Spring Valley, CA 91977
  • $2,450,000
  • STATUS: PENDING
  • ON SITE: 122 Days
  • ID#: 220024565
Pending
UPDATED: 25 min ago
$2,450,000
  • 3
    BEDS
  • 0.33
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

ASSUMABLE FINANCING AT 2.84%. 415 Grand Avenue is a 10 unit apartment building located in the community of Spring Valley. The two structures were built in 1978 on a 14,583 square foot lot. The property has strong unit mix of nine 2 Bedroom / 1 Bath units and one 1 Bedroom / 1 Bath unit totaling 7,807 rentable square feet. There are 15+ open parking spaces. These spacious units have upside in rents. The financing can be assumed. $1.3M at 2.84%.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/133428749
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415 Grand Avenue Spring Valley, CA 91977

  • Price: $2,450,000
  • Status: PENDING
  • On Site: 122 Days
  • Updated: 25 min ago
  • ID#: 220024565
3
Beds
2
Baths
0
½ Baths
0.33
Acres
Neighborhood:
Spring Valley (91977)
County:
San Diego
Area:
Spring Valley (91977)
Property Description
ASSUMABLE FINANCING AT 2.84%. 415 Grand Avenue is a 10 unit apartment building located in the community of Spring Valley. The two structures were built in 1978 on a 14,583 square foot lot. The property has strong unit mix of nine 2 Bedroom / 1 Bath units and one 1 Bedroom / 1 Bath unit totaling 7,807 rentable square feet. There are 15+ open parking spaces. These spacious units have upside in rents. The financing can be assumed. $1.3M at 2.84%.
Exterior Features

Parking Spaces Total 16

Interior Features

Sq Ft Of Improvement 7807 Units With Ranges 10 Units With Refrigerators 10

Property Features

Actual Cap Rate 5.07 Actual Gross Operating Income 197729 Actual Gross Scheduled Income 203844.0 Actual Operating Expense 73608 Actual Vacancy And Credit Loss 6115 Assumable Finance 1300000 Buildings 2 Gross Equity 1150000 Gross Multiplier 12 Have Units Leased Apartments 10 Mandatory Remarks None Known Market Area East County Monthly Rent Total 16987 Motive Want Sell Other Income Source Laundry Present Loan 1300000 Projected Cap Rate 6.1 Projected Gross Multiplier 10.7 Projected Gross Operating Inc 223092 Projected Gross Scheduled Inc 229992 Projected Net Income 149511 Projected Operating Expense 73581 Projected Vacancy And Credit Loss 6900 Short Sale No Tenant Pays Gas Y Tenant Pays Water Y Unit Number1 9 Unit Number2 1 Unit Rent Total1 15021 Unit Rent Total2 1595 Unit Rent1 1669 Unit Rent2 1595

San Diego MLS logo Listing provided courtesy of Northmarq Multifamily: [IDXCONTACTINFORMATION]. Listing information © 2023 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
 
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The Neuman Team Real Estate Inc.
516 5th Avenue
San Diego CA, 92101